Cash $$1,000,000$ Accounts payable $$1,200,000$ Sales $$20,000,000$

Accounts receivable $2,000,000$ Accruals $400,000$ Cost of goods sold $12,000,000$

Inventory $3,000,000$ Notes payable $1,600,000$ Gross profit $8,000,000$

Current assets $6,000,000$ Current liabilities $3,200,000$ Operating expenses $5,000,000$

Long$-$term debt $4,500,000$ EBIT $3,000,000$

Total liabilities $7,700,000$ Interest expense $732,000$

Common stock $1,575,000$ EBT $2,268,000$

Net fixed assets $8,000,000$ Retained earnings $4,725,000$ Taxes $567,000$

Total equity $6,300,000$ Net income $$1,701,000$

Total assets $$14,000,000$ Total debt and equity $$14,000,000$